Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios.
‘Should I buy’ Bitcoin? UBS Answers
UBS published a detailed report about bitcoin last week. It answers some questions that the bank is currently discussing with its clients, explained the report authors, including the firm’s chief investment officer of global emerging markets, Michael Bolliger. UBS Group is currently Switzerland’s largest bank by total assets, followed by Credit Suisse Group.
The first question UBS answered in its report entitled “The rise of bitcoin” was “Should I buy?” The report explains that “Many clients are asking whether they should invest in bitcoin and other cryptocurrencies,” adding:
Our general guidance is this: While we wouldn’t rule out further price increases, we’re somewhat skeptical of any essential real-world use cases, which